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Neuphoria Therapeutics Inc. (NEUP-2.48%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $662,715, attributed to a milestone payment from a licensing agreement with Carina Biotech Pty Ltd.
Research and development expenses for the quarter were $1,737,039, a decrease from $2,034,916 in the same quarter the previous year, primarily due to reduced expenditures associated with clinical trials.
General and administrative expenses increased to $2,629,187 from $2,517,946, mainly due to professional fees related to the company's redomiciliation.
The company reported a net loss of $1,943,349 for the quarter, compared to a net loss of $4,554,424 in the previous year.
Cash used in operating activities was $7,791,150, while cash used in financing activities was $338,900.
Neuphoria had cash and cash equivalents of $4,344,578 as of December 31, 2024. The company acknowledges its need for additional financing to continue its operations.
The filing also details the company's redomiciliation from Australia to the United States, which was completed on December 23, 2024.
Neuphoria's lead product candidate, BNC210, is being developed for the treatment of social anxiety disorder and post-traumatic stress disorder.
The company has a strategic partnership with Merck & Co., Inc. for the development of drugs targeting cognitive deficits in Alzheimer's disease.
Neuphoria's financial performance is subject to risks, including the need for additional capital and the successful development of its product candidates.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Neuphoria Therapeutics Inc. quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.